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Headhunter cites freeze in City recruitment market

The number of job vacancies in the City of London declined by 29% last month, compared with October, to 2,725, marking a year-on-year fall of 42%, as employers pulled back from hiring amid the worsening eurozone crisis, a poll by Morgan McKinley found.

The headhunter forecast an upturn in hiring in February and March, the post-bonus season period when banks typically step up hiring activities, but cautioned that the volume would be subdued.

The financial specialist’s annual bonus expectations survey also revealed that 67% of City workers hope to earn a bonus in the new year, while 32% anticipate a reduced bonus.